Pre 2007 Prestige Rankings
Interested to hear from people who have been in finance longer than me how prestigious different banks were way back pre-financial crisis. Particularly interested to hear how the following were perceived at the time:
- Failed banks e.g. Lehman, Bear Sterns, Credit Suisse- were they always known as failures?
- EBs- were they a big deal at the time or is this more recent?
- BBs- whose perception has changed the most here?
Obviously useless information now, would just be fascinating to hear.
This guy wants rolling prestige rankings multiples 😭😭
Cross-macro conditions pre-GFC rankings 😭
BBs - GS, MS, Lehman, JPM, ML (Bear and CS were also highly regarded but not at same level as the ones mentioned, but some groups were very strong).
EBs - BX, GHL, LAZ, EVR (Note that CVP, PWP, and MOE were just starting in 06/07) and yes, EBs were highly desired and selective at this time. These EB's were advising on multi-billion-dollar deals left and right. Absolutely killing it. 05-08 was peak Bob Greenhill.
.
Lehman at least I recall was regarded extremely highly right up to the end - honestly even in mid-2008 nobody thought it would go under. Also recall that for these failed banks, it wasn't a couple of sloppy years of IB fees that sent them under, but the blowups elsewhere.
If you want a bit of IB history, there was this website (clearly college humour type stuff but takes me back) that posted a bit of short story type material:
https://www.leveragedsellout.com/2004/01/re-lehman-brothers-recruiting/
This is actually an important discussion to think about in the big scheme of things. What is today a prestige bank can very likely be a cautionary tale in the near future.
Similarly, guys like Evercore and Moelis were literally nobodies in recent memory. Puts things in perspective.
Expedita rerum praesentium consectetur nisi magnam repellendus laboriosam. Nisi unde dolor possimus qui. Ut qui dolorem qui tempore voluptas enim.
Sunt dignissimos nulla odit dolore quia nobis corporis. Nam voluptatem nemo rem cupiditate maxime. Voluptas quia pariatur autem sit doloremque quisquam. Vitae rerum odit neque atque. Veniam eius iste molestiae quam consequuntur corporis. Veritatis aspernatur est repudiandae earum nihil id molestiae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...